595 1ST Street

Hanover, ON

48,000 sqft
Industrial
118 days on market

$9,999,998

Exceptional industrial/commercial opportunity at 595 First Street in Hanover. This impressive multi-unit building offers approximately 48,000 sq. ft. divided into 26 individual units, making it ideal for investors, owner-users, and businesses seeking flexible industrial space in Hanover's growing industrial corridor. Each unit features its own private washroom, separate man door entrance, overhead drive-in door, individually metered hydro and gas services, and open-span layout suitable for warehousing, manufacturing, trades, storage, service businesses, showroom, and industrial-commercial uses. The property is equipped with a powerful 3-phase electrical system designed to support modern industrial operations. Ample on-site parking is available for staff and customers, along with a shared loading dock to support shipping and receiving needs. The flexible design allows users to customize units to suit their business operations while offering excellent leasing potential for investors. A major highlight is the future upside potential. Ownership is currently working on a condominium conversion plan, creating the opportunity for future individual unit sales and additional investment flexibility. Investors can benefit from multi-tenant income while positioning for future resale opportunities, while owner-users can secure long-term space in a rapidly expanding market. Situated on a sizable site with room for future expansion and potential for an additional commercial building, this property offers rare growth potential in one of Ontario's emerging industrial markets. Excellent opportunity to acquire a versatile industrial asset with strong income potential, future condo conversion upside, and long-term value.

Listing Details

Taxes (2025): $31,689
Listed: May 5, 2026

Price History

Listing history

Property

Lot Size: 392 x 661 Feet

Parking

Garage: Unknown

Location & Legal

Cross Street: Heading north on Grey Rd. 10/10th Avenue, turn right onto 11th Avenue. Follow to 14th avenue & turn right. Turn left onto 1st Street. Destination is on the right.
Zoning: M1
Parcel Number: 372110962
Possession: Flexible
Occupancy: Partial

Commercial

Business Type: Other

Community

Postal area N4N

Population: 10,341
Private dwellings: 4,849
Median age: 49.6
Average household size: 2.3
Median household income: $73,000

Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.

Local market

Commercial in Hanover · last 12 months

Median sold price: $517,000
Homes sold: 115
Median days on market: 44
Sale-to-list price: 96.8%

Based on 115 recorded sales of commercial properties in Hanover over the last 12 months.

Listed by

COLDWELL BANKER THE REAL ESTATE CENTRE

Walk Score

Walk Score is unavailable for this address right now.

Location

Street View

Commercial figures

Building area: 48,000 sq ft
Price per sq ft: $208.33
Annual property tax: $31,689
Tax per sq ft: $0.66

Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.

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